Working households are gloomier about the future than pensioners

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Working-age households have for the first time become more pessimistic about the future than their retired counterparts, against a backdrop of rising inflation and stagnant wage growth.

Unlike their retired peers, who have enjoyed above-inflation increases in their pensions and property values, working-age households have seen little or no increases in their incomes and now face the prospect of higher prices for things like food, fuel, clothing and overseas holidays, according to the survey from PriceWaterhouseCoopers.

The firm asked 2,000 people across the country whether or not they thought they would be better off in 2017 than they were last year. A quarter said they expected their lot to...